Allowed

Union Bank of India (Corporation Bank) v. Telsang Motors

DRT29 Aug 2023OA/1042/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an inter partes application for an interim injunction restraining specific defendants from transferring or alienating schedule properties mortgaged to the applicant bank, citing prima facie case and balance of convenience.

What did the court decide?

Restraint issued against Defendants No.3 and 5 from dealing with, disposing of, or alienating schedule properties.

Union Bank of India (Corporation Bank) versus Telsang Motors — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, KARNATAKA AT AENGALURU

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Dated this the 29th day of August 2023

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Presentr Sri IMTIAZ ALI

Presiding Officer

I.A,No.s3O/2O23

O.A. No.1O42l2023

BETWEEN:

UNION BANK OF INDIA

(Erstwhile Corporation Bank)

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Central Office at :

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239, Vidhan Bhawan Marg Nariman Point, Mumbai-400 021

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Branch Office at :

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Dharwad High Court Road Branch,

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Plot No.176 A, Belur Industrial Area, Opp to High Court, Dharwad-580 004

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Represented by its Branch lvlanager, Iqbal Ahmed Benni

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AND:

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.. PETITIONER/ APPLICANT BANK

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M/s Telsang Motors, A lPartnership Firm by its^padners Sri Manjunath Basavaraj Telsang, Sri l.4ayur Chandrashekar Telsang, Opposite TVS Showroom, Green Garden Cross, Gokul Road,

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Hubballi, Dharwada-580 O3O

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Sri Manjunath Basavaraj Telsang, Son of Basavaraj Telsang, Aged about 50 years,

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Sri Chandrashekar B Telsang, Son of Basavaraj Telsang, Aged about 57 yearc,

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1.A.No.530/2023 in O.A.No.1042/2023

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Sri Mayur Chandrashekar^Telsang, Son of Sri Chandrashekar^{Basavaraj Telsang,} Aged about 25^years,

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Sri Arun Basavaraj^Telsang, Son of Basavaraj^Telsang, Aged about 46^years, Defendants No.2 to^{5 are} at H.No.45, Bazaar^Galli Khasbag, Belgaum-590⁰⁰¹

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Smt. Vidhya Telsang Also called as Vidhya^{Pradeepkumar Telsang,} Wife of late Sri^{Pradeepkumar Telsang,} Aged about 46 Years, Proprietrix of^{M/s TelsangTravels,} Old P.B. Road, Varadappa Galli^{Cross Khasbag,} .. RESPONDENTS/

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Belgaum-590 001 DEFENDANTS

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The^present OA^{is filed by the Applicant Bank against} of recoverY^{certificate and other} the Defendants^{for issuance} reliefs for^{recoverY of a} total sum of^{Rs.1,24,90,938/-} together with^{further rate of} interest thereon,^{costs,charges} etc.

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The above^{Interlocutory Application is filed by the} Applicant Bank^{with affidavit of its Branch ManagerSri Iqbal} Ahmed Benni,^{seekingto restrain the 3'd and 5th Defendants} herein by way^{of injunctionorder debarring them from} transferring,^{alienating or otherwisedealing with or disposing} of the schedule^{properties withoutthe prior permissionof the} Tribunal, in the^{interestof justice and equity'In the affidavit'}

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1.A.No.530/2023 in O.A.No.1042/2023

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inter alia, it is contended that at the time of granting of the credit facilities to the Defendants, the Applicant Bank has not taken any other immovable properties as security except the OA schedule properties and during its visit to the location oi the schedule properties, the Applicant Bank came to knorv that the Defendants No.3 and 5 with an intention to defraud the Applicant Bank are trying to alienate the OA schedule properties sought for injunction, in which event, the Applicant Bank apprehends that the Applicant Bank will be put to grave injustice. Hence, the Applicant Bank has sought to allov,/ the above I.A. as prayed for.

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It appears that the petitioner/Applicant Bank has filed the above LA. on the premise that Defendants No.3 and 5 may alienate or dispose of in any way creating third_party interest on the properties described in the schecJule. Considering the huge amount of O.A. involved in this case, and balance of convenience, the present IA is to be allowed by keeping open the merits of the case and without prejudice to the rights of both the parties. By doing so, no prejudice, no harm and no loss will be caused to the Defendants. As the Applicant Bank has prima facie established the essential ingredients for granting ex parte ad interim order of injunction, I proceed to pass following:

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1.A.No.530/2023 in o.A.No.1042/2023

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ORDER

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Defendants No.3 and^{5,their agents,} representatives,^{assigns,etc., or any other person/s} claiming under them^{are hereby restrainedfrom} dealing with,^{disposing of, selling, transferring,} alienating, encumbering,^{partingwith possession,} creating third-party^{right(s), title,interestandclaim} of any nature^{whatsoever in any manner in respect} of the schedule^{properties,during the pendencyof} the OA.

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Issue summons^{on O'A' and noticeson I'A' to} Defendants/Respondents^{by RPAD'Libertyis} granted to Defendants^{to applybeforethis Tribunal} for modification,^{variation or cancellation of this} order.

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DESCRIPTION^{OF THE MORTGAGEDPROPERTIES} _ MORTGAGED^{BY 3RD AND sTHDEFENDANTS}

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All that^{piece and parcel of undivided interestin non-} agricultural^{residential landed property bearingCTS} No.3252/t,^{Plot No.17, (Part) measuring311'7/9square} yards, R.S.No.3252,^{Khasbag, Bazaar Galli' Belagavi coming} within the^{jurisdiction of Corporationof Belagavi andbounded} on East by^{Property bearing CTS No'3253'West by Property}

'iJi;l1Y:;11;\

bearing CTS No.3252l2, North by Road and South by property bearing CTS No.3130.

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For steps/appearance/further proceedings before

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Registrar call on 15.11.2023.

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\ blub \rye lrmrrAz au; PRESIDING OFFICER DRT-I, BENGALURU

Union Bank of India (Corporation Bank) v. Telsang Motors

Case brief

What is this about?

What did the court decide?

Union Bank of India (Corporation Bank) v. Telsang Motors

Case brief

What is this about?

What did the court decide?

What the court decided

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